Eversource Energy (NYSE:ES) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Eversource Energy (NYSE:ES - Free Report) from a sell rating to a hold rating in a research note issued to investors on Thursday.

ES has been the topic of several other research reports. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Scotiabank decreased their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Barclays decreased their price target on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group dropped their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $67.45.

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Eversource Energy Trading Up 0.3 %

Shares of ES traded up $0.16 during mid-day trading on Thursday, hitting $61.55. The company had a trading volume of 2,979,929 shares, compared to its average volume of 2,174,971. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01. The business's 50-day simple moving average is $59.53 and its 200-day simple moving average is $61.98. The stock has a market cap of $22.59 billion, a PE ratio of 26.64, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Sell-side analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.89%. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. Eversource Energy's dividend payout ratio is 130.30%.

Insiders Place Their Bets

In other news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jay S. Buth sold 980 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now owns 24,374 shares of the company's stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Mizuho Bank Ltd. bought a new position in Eversource Energy during the 4th quarter worth $26,000. Kestra Investment Management LLC bought a new position in shares of Eversource Energy during the fourth quarter worth about $29,000. Assetmark Inc. grew its position in shares of Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after acquiring an additional 254 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Eversource Energy in the 3rd quarter worth about $31,000. Finally, Ashton Thomas Securities LLC bought a new stake in Eversource Energy in the 3rd quarter valued at about $32,000. 79.99% of the stock is currently owned by institutional investors.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.